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Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
 Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.has announced that it has, through its wholly-owned subsidiary, PT Bestindo Energy, (“Bestindo”) entered into three separate Memorandums of Understanding ("MOU’s") which give Bestindo the exclusive right, for a period of thirty days, to purchase the shares of three separate private Indonesian companies which hold various coal rights related to four separate coal projects, according to news that posted in its web site.
Each of the coal projects is 100% owned by the respective private company and all of the projects are located in the Regency of Kutai, East Kalimantan. Each of the MOU’s provide for the subsequent execution of a Conditional Share Purchase Agreement (“CSPA”), which provides for staged payments of the purchase price over a period of four months in respect of one MOU and over a period of 24 months for the other two MOU’s.
Arni Bersaudara Coal Project
Pt Arni Bersaudara (“Arni”) is the holder of two contiguous IUP Exploration permits covering 3,039 and 2,874 hectares in the District of Muara Kaman. The IUP’s are approximately 40km north of the Mahakam River The Arni MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Arni for payments totaling $2,414,181 CAD. Terms of the payment include $84,215 CAD upon signing, $308,790 CAD within 6 months of signing the CSPA and the balance of $2,021,176 CAD after all the essential permits to bring the project into production are in place, or a maximum of 24 months from initial CSPA signing.
The target calorific value of coal is in this concession is around GCV 6,300 – 7,000 and 5,600 – 6,000 respectively.
Apriadi Bersaudara Coal Projects
Pt Apriadi Bersaudara (“Apriadi”) is holder of a KP PU (Mining Authorization for General Survey) covering an area of 930 hectares, which is currently being converted to IUP Exploration in the District of Samboja (AP1) and a SKIP (Exploration Permit Application) covering an area of 3,086 hectares in the District of Muara Kaman (AP2). The AP1 project is 10km from the coast and close to an independent haul road and port loading facilities which are under construction. The AP2 project is approximately 45km north of the Mahakam River and in close proximity to the Arni Bersaudara projects. The Apriadi MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Apriadi for payments totalling $2,077,318 CAD. Terms of the payment include $56,143 CAD upon signing of the CSPA , $112,287 CAD upon receiving IUP exploration permits for both projects, $224,575 CAD within 12 months of CSPA and the balance of $1,684,313 CAD due on the 24 month anniversary of the CSPA signing.
The target calorific value of coal ranging from 5000 GAD to 7000.
Putri Etam Coal Project
CV Putri Etam (“Putri”) is a private Indonesian company which is in the process of applying for an IUP Exploration and has successfully secured a Local Announcement letter from authorities. The application covers 100 hectares and is located in the Muara Badak district. The Putri MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Putri for payments totaling $84,215 CAD. Terms of the payment include $28,071 CAD upon signing and $56,144 CAD upon completion of the deed of shares transfer.
An additional agreement also provides that a royalty of US$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Wednesday, 03 October 18
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- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- The University of Queensland
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
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